MarketIntel

Brent: Watch Your Head! 🤕

TVC:UKOIL   CFDs on Brent Crude Oil
Brent has been climbing and climbing and climbing and has actually maxed out the space until $114.74. There, it has finished wave (A) in white, butting its head at the resistance line, and subsequently turned around to move downwards. We expect Brent to drop into the green zone between $106.12 and $99.47 to recover and to complete wave (B) in white. Then, it should start to rise again, breaking through the resistance at $114.74 this time. After finishing wave (C) in white as well as wave B in green, ideally in the lower third of the green zone between $117.78 and $133.52, Brent should turn again, heading in the direction of $97.56.
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